Hey there @Atl_TaxSlayer.. As much as I hate to say this, there is no way to know for certain whether or not this will affect new loan offers. My guess (ONLY a guess based on my decade of experience with Square) is that any change we request to the repayment terms of the loan WILL delay/affect new loan offers. That would be consistent with any lender, really, since asking for changes to repayment terms is often an indication that we are having issues with repayment which is not a green flag for getting new offers no matter what our repayment history has been to that point.
Otherwise, loan offers are going out. But it seems that they are still not happening as soon as they did pre-pandemic. Most likely, that will never change. I read an article somewhere recently that indicated that merchant cash advance loans were becoming more conservative and cautious and that this is a trend world-wide -- not just with Square. These days, I don't recommend that anyone expect a new offer until at least 85-90% because from what I've seen here and elsewhere that seems to be a more realistic bet in general. Another thing I'll mention is that I've read here in the past few weeks that new loan offers have been disappointingly lower than usual or than expected. Again, that is not actually surprising given the state of the lending market in general right now.
Anyway, good luck.
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
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